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प्रश्न
Identify the market having a single buyer and many sellers from the following:
पर्याय
Monopoly
Monopsony
Perfect competition
Monopolistic competition
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उत्तर
Monopsony
Explanation:
In a monopsony market system, there is only one buyer, and hence that buyer has tremendous power over demand. Because there are so many vendors, the buyer can obtain significant bargaining power and determine their terms.
संबंधित प्रश्न
Which two forms of market earn normal profit in the long run?
"The price of a product under perfect competition is determined by an individual seller."
The monopolist's downward sloping demand curve means that it can increase sales only by changing a lower price.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Price discrimination is possible under monopoly.
Reason (R): A monopolist can charge different prices in different markets because different sets of consumers - rich and poor - have different price elasticity of demand for the monopolist's product.
Give two characteristics of perfect competition.
Highlight the importance of selling costs in a monopolistically compatible market.
Give an example of monopoly.
Discuss any four differences between monopoly and monopolistic competition.
Give two examples of a monopolistically competitive market.
What is meant by the term ‘price taker’?
